i-Dice Programme: A Transformative Initiative to Unleash Nigeria’s Digital and Creative Potential
By Kenneth Udoakpan
In a landmark move, the National Economic Council (NEC) has endorsed the implementation of the $617.7 million Investment in Digital and Creative Enterprises (i-DICE) programme across the 36 states of the federation and the Federal Capital Territory (FCT). This decision, announced during the 140th NEC meeting held virtually on March 21st, 2024, signifies the renewed hope administration’s unwavering commitment to fostering prosperity and creating opportunities for all Nigerians.
At the helm of this initiative is Vice President Kashim Shettima, who, as the chairman of the Council, declared the government’s firm resolve to leave a lasting legacy of economic empowerment and inclusive growth. Addressing the state governors, Shettima urged them to nominate representatives from each geo-political zone to oversee the programme’s implementation at the zonal level, as well as appoint focal persons to lead the charge in their respective states.
Unlocking the Potential of Nigeria’s Entrepreneurial Spirit
The i-DICE programme is a strategic intervention designed to align with President Bola Ahmed Tinubu’s eight-point agenda, which prioritizes skill acquisition and job creation. Shettima emphasized the administration’s determination to pave the way for Nigerians to acquire skills that meet the demands of the global market, recognizing that this is crucial for shaping the economic landscape of tomorrow.
“When we empower entrepreneurs and small business owners, we unlock the potential for innovation, job creation, and economic growth,” Shettima remarked. “By providing access to financing, training, and mentorship programs, we unleash the entrepreneurial spirit that lies within every Nigerian, catalysing a wave of economic prosperity that benefits us all.”
A Collaborative Approach to Sustainable Development
The i-DICE programme is a collaborative effort, with funding secured from various international development partners. The African Development Bank (AfDB) is contributing $170 million, the Islamic Development Bank (IsDB) is providing $70 million, and the French Development Agency (AFD) is investing $116 million. The Bank of Industry (BoI), on behalf of the Federal Government of Nigeria (FGN), is contributing $45.50 million, while the fund manager for the equity fund portion is adding $8.70 million. The remaining $205 million will come from private investors.
Empowering Youth and Driving Economic Diversification
The i-DICE programme aims to have a transformative impact on Nigeria’s digital and creative sectors. According to the Executive Director in charge of SMEs at the Bank of Industry, Mr. Shekarau Omar, the initiative will train and certify 1,269,757 youths in ICT skills, with a minimum of 25,000 youths trained in each state and the FCT.
Moreover, the programme is expected to create at least 100,000 direct jobs per state, while also generating an estimated 5,581,231 indirect jobs through its interventions nationwide. This aligns with the government’s broader strategy to diversify the economy and create sustainable employment opportunities for the country’s youth.
Consistency and Accountability in Implementation of i-Dice Programme
Recognizing the delicate nature of the current economic climate, Vice President Shettima emphasized the importance of consistency and accountability in the implementation of initiatives that alleviate the suffering of Nigerian citizens. He implored the governors and other council members to remain steadfast in executing policies and programmes that benefit all stakeholders, ensuring that no community or region is left behind.
“We must remain consistent in implementing the initiatives that alleviate the suffering of our citizens and be accountable in doing so,” Shettima stated. “We must also ensure that interventions we deploy are non-discriminatory and favour all stakeholders, with no part of our communities or nation left lagging.”
Addressing Economic Challenges and Fostering Prosperity
The NEC meeting also addressed other pressing economic issues, including updates on the Excess Crude Account (ECA), the Stabilization Account, and the State Budget Support Facility. The Council also received reports from its ad-hoc committees on crude oil theft prevention and control, as well as the establishment of state police.
Furthermore, the Council discussed the progress of the Special Agro-Industrial Processing Zones (SAPZ) programme and the ongoing ease of doing business reforms led by the Presidential Enabling Business Environment Council (PEBEC). These initiatives, coupled with the i-DICE programme, demonstrate the government’s comprehensive approach to addressing economic challenges and fostering prosperity for all Nigerians.
i-Dice Programme A Transformative Legacy of Opportunity and Inclusion
The endorsement of the i-DICE programme by the National Economic Council marks a significant milestone in the Tinubu administration’s efforts to create a more prosperous and inclusive Nigeria. By empowering entrepreneurs, nurturing digital and creative talents, and generating millions of jobs, this initiative has the potential to transform the economic landscape and unlock the boundless potential of the Nigerian people.
As Vice President Shettima eloquently stated, “our actions today will shape the economic landscape of tomorrow, and so it’s incumbent upon us to ensure that we leave a legacy of prosperity and opportunity for all Nigerians.” With the unwavering commitment and collaborative efforts of the federal and state governments, along with the support of international partners, the i-DICE programme is poised to become a transformative catalyst for Nigeria’s digital and creative revolution.
NEC Endorses Take–Off of $617M i-Dice Programme Accross States statehouse gov.